Oaktree
Private equityLos Angeles Β· 14 people tracked
Also known as Oaktree Capital Management, L.P. Β· Oaktree Fund Advisors, Llc
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Oaktree's philosophy is built on six enduring tenets: the primacy of risk control, an emphasis on consistency over volatile results, and a focus on inefficient markets where skill and effort can yield a knowledge advantage. The firm values specialization, running each portfolio as a single dedicated investment strategy. It relies on bottom-up, company-specific research rather than macro-forecasting, using portfolio structure defensively to avoid concentration. Oaktree disavows market timing, keeping portfolios fully invested when attractively priced assets are available and never raising cash. Its overriding goal is superior performance with less-than-commensurate risk, believing that avoiding losers allows the winners to take care of themselves.
Invests inGlobalLos Angeles
Source: firm website, verified Aug 6, 2026.
HQ
Los Angeles, CA, US
Instruments
Equity Β· Debt
Founded
1995
AUM
$109B
Team Β· 14 people
from the firm's websiteBruce KarshΒ· Co-Chairman and Chief Investment Officer
Howard MarksΒ· Co-Chairman
Armen PanossianΒ· Co-Chief Executive Officer
John FrankΒ· Vice Chairman
Robert O'LearyΒ· Co-Chief Executive Officer
Sheldon StoneΒ· Principal and Co-Portfolio Manager
Bruce FlattΒ· Brookfield Director
Craig NobleΒ· Brookfield Director
Depelsha McGruderΒ· Outside Director
Jay GhiyaΒ· Chief Operating Officer
Justin BeberΒ· Brookfield Director
Mansco PerryΒ· Outside Director
Marna WhittingtonΒ· Outside Director
Steven GilbertΒ· Outside Director
Fund performance Β· per public LP disclosures Β· 59
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Oaktree Gilead Investment Fund, L.P. - Series BLPs: California Public Employees' Retirement System | 2025 | β | β | 1.02x | 0.00x |
| Oaktree Opportunities Fund XII, L.P.LPs: Connecticut Retirement Plans and Trust Funds | 2024 | β | β | 1.20x | β |
| Oaktree CLO Equity Fund ILPs: San Diego County Employees Retirement Association | 2023 | β | 8.5% | 1.08x | 0.37x |
| Oaktree RE IXLPs: Teachers' Retirement System of Oklahoma | 2023 | β | β | 0.83x | β |
| Oaktree Special Situations IIILPs: San Joaquin County Employees' Retirement Association | 2023 | β | β | 1.10x | 0.41x |
| Oaktree Special Situations Fund IIILPs: Minnesota State Board of Investment | 2022 | β | 24.7% | 1.36x | 0.38x |
| OAKTREE POWER OPPORTUNITIES FUND VI LPLPs: Empire State Development β New York Ventures, Texas Municipal Retirement System, Sacramento County Employees' Retirement System +1 more | 2021 | β | 29.9% | 2.41x | 1.48x |
| Oaktree Gilead Investment Fund, L.P. - Series ALPs: California Public Employees' Retirement System | 2020 | β | β | 1.85x | 0.00x |
| Oaktree Latigo Investment Fund, L.P.LPs: California Public Employees' Retirement System | 2020 | β | 9.9% | 1.36x | 0.65x |
| Oaktree Opportunities Fund XI, L.P.LPs: Washington State Investment Board, Oregon Public Employees Retirement System, Minnesota State Board of Investment +2 more | 2020 | β | 9.2% | 1.33x | 0.60x |
| Oaktree Real Estate Debt IIILPs: Minnesota State Board of Investment | 2020 | β | 3.7% | 1.10x | 0.27x |
| Oaktree Real Estate Opportunities Fund VIIILPs: Minnesota State Board of Investment, Richard King Mellon Foundation | 2020 | β | -0.2% | 1.00x | 0.28x |
| Oaktree Opportunities Fund XbLPs: Empire State Development β New York Ventures, Washington State Investment Board, Florida State Board of Administration +6 more | 2018 | β | 11.1% | 1.71x | 0.64x |
| Oaktree Special Situations Fund II, L.P.LPs: Minnesota State Board of Investment, Hawaii Employees' Retirement System, Baltimore City Employees' Retirement System | 2018 | β | 25.8% | 1.82x | 1.01x |
| Oaktree Opportunities Fund XLPs: Washington State Investment Board, Minnesota State Board of Investment, Oregon Public Employees Retirement System +4 more | 2015 | β | 8.4% | 1.51x | 1.12x |
| Oaktree Reof VIILPs: Contra Costa County Employees' Retirement Association | 2015 | β | 7.3% | 1.27x | 0.72x |
| Oaktree Special Situations Fund, L.P.LPs: Minnesota State Board of Investment | 2014 | β | -1.4% | 0.92x | 0.39x |
| Oaktree European Dislocation FundLPs: Teachers' Retirement System of Oklahoma | 2013 | β | β | 1.05x | 1.05x |
| Oaktree European Dislocation Fund (US) LPLPs: San Diego County Employees Retirement Association | 2013 | β | 4.6% | 1.05x | 1.05x |
| Oaktree Reof VILPs: Contra Costa County Employees' Retirement Association | 2013 | β | 12.2% | 1.24x | 1.10x |
| Oaktree Opportunities Fund IXLPs: Washington State Investment Board, Los Angeles County Employees Retirement Association, Florida State Board of Administration +6 more | 2012 | β | 8.1% | 1.90x | 1.24x |
| Oaktree Real Estate Opportunities Fund V, L.P.LPs: San Bernardino County Employees Retirement Association, Richard King Mellon Foundation | 2012 | β | 9.4% | 1.37x | 1.55x |
| Oaktree EOF IIILPs: South Carolina Retirement System Investment Commission | 2011 | β | 5.6% | β | β |
| Oaktree European Principal Fund IIILPs: North Carolina Retirement Systems, Employees' Retirement System of Rhode Island, Maryland State Retirement and Pension System | 2011 | β | 4.9% | 1.32x | 1.12x |
| Oaktree European Principal Fund III (US)LPs: Oregon Public Employees Retirement System | 2011 | β | 4.4% | 1.28x | 1.12x |
| Oaktree European Principal Fund III U.S.LPs: California State Teachers' Retirement System | 2011 | β | 4.9% | 1.39x | 1.14x |
| Oaktree Opportunities Fund VIII-B, L.P.LPs: Washington State Investment Board | 2011 | β | 8.2% | 1.70x | 1.64x |
| OAKTREE OPPORTUNITIES FUND VIIIB LPLPs: California Public Employees' Retirement System, Empire State Development β New York Ventures, Oregon Public Employees Retirement System +2 more | 2011 | β | 8.2% | 1.68x | 1.64x |
| Oaktree Power Fund IIILPs: Dallas Police & Fire Pension System | 2011 | β | 12.3% | 1.50x | 1.47x |
| Oaktree Power Fund III 3LPs: Dallas Police & Fire Pension System | 2011 | β | 12.6% | 1.48x | 0.74x |
| Oaktree Reof VLPs: Contra Costa County Employees' Retirement Association | 2011 | β | 12.2% | 1.58x | 1.58x |
| Oaktree Value Opportunities Fund, L.P.LPs: North Carolina Retirement Systems | 2011 | β | 4.6% | 1.47x | 0.64x |
| Oaktree Opportunities Fund VIII, L.P.LPs: Washington State Investment Board, Florida State Board of Administration, Empire State Development β New York Ventures +6 more | 2010 | β | 9.0% | 1.50x | 1.47x |
| Oaktree Principal Fund V, L.P.LPs: Washington State Investment Board, Oregon Public Employees Retirement System, Richard King Mellon Foundation | 2010 | β | 3.2% | 1.20x | 1.13x |
| OCM European Principal Fund III LPLPs: San Diego County Employees Retirement Association | 2010 | β | 3.4% | 1.21x | 1.05x |
| Oaktree Opportunities VIII PELPs: Maine Public Employees Retirement System | 2009 | β | 9.1% | 1.47x | 1.45x |
| Oaktree PIFLPs: Contra Costa County Employees' Retirement Association | 2009 | β | 3.0% | 1.36x | 1.35x |
| Oaktree Opportunities VII BLPs: Teachers' Retirement System of Oklahoma | 2008 | β | β | 1.73x | 1.73x |
| OCM Opportunities Fund VII-B, L.P.LPs: Washington State Investment Board, Michigan Municipal Employees' Retirement System, Robert Wood Johnson Foundation | 2008 | β | 16.5% | 1.70x | 1.73x |
| OCM Opportunities Fund VIIbLPs: California State Teachers' Retirement System, Empire State Development β New York Ventures, Oregon Public Employees Retirement System +7 more | 2008 | β | 16.5% | 1.73x | 1.73x |
| Oaktree Loan Fund 2xLPs: Dallas Police & Fire Pension System | 2007 | β | 2.2% | 1.10x | 1.08x |
| Oaktree Loan Fund 2X 3LPs: Dallas Police & Fire Pension System | 2007 | β | 2.2% | 1.08x | 1.07x |
| Oaktree Opportunities VII ALPs: Teachers' Retirement System of Oklahoma | 2007 | β | β | 1.38x | 0.01x |
| OCM Opportunities Fund VII, L.P.LPs: California State Teachers' Retirement System, Washington State Investment Board, Oregon Public Employees Retirement System +8 more | 2007 | β | 7.3% | 1.40x | 1.38x |
| OCM Principal Opportunities Fund IV, LPLPs: Washington State Investment Board, Oregon Public Employees Retirement System, Michigan Municipal Employees' Retirement System +2 more | 2006 | β | 8.8% | 1.68x | 1.68x |
| OCM Opportunities Fund VI, L.P.LPs: California State Teachers' Retirement System, Oregon Public Employees Retirement System, Washington State Investment Board +4 more | 2005 | β | 8.7% | 1.58x | 1.58x |
| OCM Opportunities Fund V, L.P.LPs: Oregon Public Employees Retirement System, California State Teachers' Retirement System, Washington State Investment Board +3 more | 2004 | β | 14.2% | 1.65x | 1.65x |
| OCM Principal Opportunities Fund IIILPs: Oregon Public Employees Retirement System, John D. and Catherine T. MacArthur Foundation, Andrew W. Mellon Foundation | 2003 | β | 9.5% | 1.49x | 1.49x |
| OCM Opportunities Fund IVbLPs: Oregon Public Employees Retirement System | 2002 | β | 46.5% | 1.63x | 1.63x |
| Oaktree Fund IVLPs: Dallas Police & Fire Pension System | 2001 | β | 28.4% | 1.70x | 1.65x |
| OCM Opportunities Fund IV, L.P.LPs: Washington State Investment Board, Dallas Police & Fire Pension System, Los Angeles City Employees' Retirement System +1 more | 2001 | β | 28.0% | 1.60x | 1.61x |
| OCM Opportunities Fund VIIIb, L.P.LPs: Florida State Board of Administration, Michigan Municipal Employees' Retirement System, Pennsylvania Public School Employees' Retirement System +1 more | 2001 | β | 6.8% | 1.46x | 1.09x |
| OCM Principal Opportunities Fund IILPs: Oregon Public Employees Retirement System, John D. and Catherine T. MacArthur Foundation, Andrew W. Mellon Foundation | 2001 | β | 18.3% | 1.61x | 1.61x |
| OCM/GFI Power Opportunities Fund, L.P.LPs: Public Employee Retirement System of Idaho | 2000 | β | 13.2% | 1.54x | 1.54x |
| OCM Opportunities Fund III, L.P.LPs: Washington State Investment Board, Oregon Public Employees Retirement System, Los Angeles City Employees' Retirement System +3 more | 1999 | β | 11.9% | 1.50x | 1.49x |
| OCM Opportunities Fund II, L.P.LPs: Oregon Public Employees Retirement System, Washington State Investment Board, Los Angeles City Employees' Retirement System +1 more | 1997 | β | 8.5% | 1.50x | 1.51x |
| OCM Principal Opportunities FundLPs: Oregon Public Employees Retirement System | 1996 | β | 5.4% | 1.45x | 1.45x |
| OCM Opportunities Fund, LPLPs: Oregon Public Employees Retirement System, Washington State Investment Board, Los Angeles City Employees' Retirement System +1 more | 1995 | β | 10.3% | 1.64x | 1.64x |
| Oaktree Private Investment Fund 2009 L.P.LPs: Contra Costa County Employees' Retirement Association | β | β | β | 1.36x | 1.35x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- Where is Oaktree located?
- Oaktree is headquartered in Los Angeles, US.